Russian stock market closes week on minor note as oil prices fall under $60 a barrel
MOSCOW. July 10 (Interfax) - The Russian stock market closed the week on a minor note as oil prices fell below $60 a barrel and the dollar posted major gains. Both the RTS Index and the MICEX Stock Exchange fell to April levels in their quotations.
Benchmark stocks on the MICEX slipped by 2.8% to 871.33 points while the RTS Index went down by 5.6% to 835.23 points.
For the week the RTS has lost 12.1% while the MICEX has decreased by 10.6%.
The decline in RTS futures came to 29 points against the base assets, indicating a negative mood among investors.
The main decliner for the day for Sberbank , down 7.9% on the RTS and 5.1% on the MICEX.
Also posting losses were Gazprom , down 2.5% on the MICEX, VTB - 5.7%, Lukoil - 0.4%, Gazprom Neft - 1.9%, Tatneft - 3.7%, Surgutneftegas - 2.4%, MMC Norilsk Nickel - 4.5%, Rostelecom - 0.1% and Polyus Gold - 5.6%.
Posting gains was Rosneft , up 1.7%.
Posting losses among second tier stocks were Kuzbassenergo , down 7.8%, TMK - 7.1% and OGK-3 - 6.4%.
Posting gains were VolgaTelecom , up 0.6% and Magnit - 0.3%.
Total RTS Classic Trading for the day came to $5.76 million, RTS Standard - $261.28 million and MICEX Stock Exchange - 43.9 billion rubles.